Apple Gets Final Approval on 'Highly Unusual' $450 Million E-Book Settlement

Apple Gets Final Approval on 'Highly Unusual' $450 Million E-Book Settlement

Posted by · 8409 views · Translate

A U.S. judge has granted Apple final approval on a 'highly unusual' settlement agreement over its conspiration with publishers to raise e-book prices.

Back in July, Judge Denise Cote found Apple guilty of colluding with publishers to raise e-book prices. A damages trial was set to follow.

Apple vehemently denied the charges saying, "Apple did not conspire to fix ebook pricing and we will continue to fight against these false accusations. When we introduced the iBookstore in 2010, we gave customers more choice, injecting much needed innovation and competition into the market, breaking Amazon’s monopolistic grip on the publishing industry. We’ve done nothing wrong and we will appeal the judge’s decision."

To avoid a damages trial, Apple negotiated a conditional $450 million dollar settlement; however, the settlement is conditioned on the outcome of its appeal.

Judge Cote has now approved what she calls a "highly unusual" accord saying it is "unusually structured settlement, especially for one arrived at on the eve of trial."

Apple and Judge Cote have butted heads numerous times through this case. Cote's been accused of ruling before hearing the evidence after she pre-declared a "tentative view" that Apple was an antitrust violator before trial. She also allegedly appointed her friend an external monitor over Apple and granted him 'excessive inquisitorial powers' leading the WSJ to publish an article blasting the judge, calling her a 'disgrace to the judiciary'.

A federal appeals court is scheduled to hear Apple's appeal on December 15th.

Read More

Apple Gets Final Approval on 'Highly Unusual' $450 Million E-Book Settlement

Rajesh kumar - November 22, 2014 at 5:37pm
more jailbreak news
Wtf - November 22, 2014 at 3:17pm
If they did nothing wrong what's with the settlement? More importantly, who's going to jail for this?
FTW - November 22, 2014 at 10:35pm
1. What CRIMES were committed? 2. Why would anyone go to jail if it involves price of things that just being fixed? No theft in it. Take a hint and maybe you won't end up in jail.